Case Study

Commercial

Vermont Shopping Center’s Annual Premium Reduced by $15K+

Manchester Center, VT

Shopping Center Saves $15K

Solutions Found:

Insurance Consulting

Flood Expert Survey

Solutions Value: $15,000+

NFE Solution: Consulting; FES

A cold call from National Flood Experts paid off big for a national real estate investment, management, and development company, that wanted to explore ways to reduce or eliminate flood insurance expenses for a shopping center in Manchester City, VT.

NFE provided a comprehensive solution to the Client's challenges. First, NFE initiated a complementary desktop engineering review to identify any potential avenues for cost savings for the property. Based on the initial assessment, NFE identified a potential cost-saving scenario for the policy but needed property-specific data to confirm the solution and recommended conducting a Flood Expert Survey (FES) to gather the needed data.

NFE performed the FES and analyzed the findings, solidifying a consulting scenario to reduce the policy premium significantly by applying engineering data. Leveraging our expertise, NFE prepared the requirement documentation to request the updated endorsement from the insurance carrier. Thanks to NFE's efforts, the carrier confirmed the endorsement change, and the client’s policy was reduced by more than $15,000 per year.

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Excess Flood Insurance Requireme

Excess Flood Insurance Requirement Eliminated for DE Multifamily Property - Dover, DE

Explore how a Dover, DE, multifamily property eliminated excess flood insurance requirements, added property value, and reduced annual flood insurance expenses thanks to NFE's comprehensive engineering review and Flood Expert Survey (FES). NFE's analysis, supported by on-site data collected during the FES, qualified 3 of 4 buildings for removal from the high-risk flood zone, eliminating the lender mandate for flood insurance for those three buildings and eliminating the excess flood insurance requirement.

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$250,000 in Added Property Value

Multifamily Property in Toms River Successfully Removed from Special Flood Hazard Area (SFHA) - Toms River , NJ

NFE successfully removed a multifamily property in Toms River from the Special Flood Hazard Area (SFHA). A Flood Expert Survey (FES) qualified all 5 buildings for a Letter of Map Amendment (LOMA). These solutions elimated$15,000 in annual insurance costs and added a remarkable $250,000 in property value.